NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2006/10/12 - Both production and consumption of ethanol are growing at an unprecedented pace in US, thus, offering enormous opportunities for players in this sector..
Production as well as consumption of Ethanol skyrocketed in June ‘06. This was mainly due to the continuing rise in the number of Ethanol pumps and increasing number of people becoming conscious about helping their country to reduce its reliance on oil.
It appears that US is rapidly developing an ethanol market for vehicles. In 2005, the country consumed about 140Bn gallons of gasoline (3.3Bn barrels). At present, there’re around 101 ethanol bio-refineries across the nation, which can produce above 114Mn barrels or 4.8Bn gallons per year. Also, forty-two ethanol refineries and seven expansions are under construction that will provide a combined yearly additional capacity of approximately 2.9Bn gallons.
In its recently published market research report “New Opportunities in US Biofuel Market (2006)” RNCOS, a leading market research and analysis firm, has provided a comprehensive analysis of every aspect of Biofuel industry in US. Not only does this report include an analytical overview of the current trends, it also looks into the future of Biofuel market in US.
According to this report, “By the beginning of 2007, total production capacity is expected to increase to 6.8Bn gallons annually. Ethanol production is also projected to surpass the mandated minimum level (i.e. 7.5Bn gallons) by the year 2012”. “While the requirement of ethanol was 4Bn gallons in 2005, its production is likely to reach about 5Bn gallons”, said an industry expert at RNCOS.
This Market Research Report on Biofuel Market addresses the following Issues And Facts:
- Past performance of biodiesel and ethanol in US.
- Various government support programs helping the growth of Biofuel industry in US
- Impacts of Biofuel on the US oil sector
- Price Analysis of Biofuel with conventional fuels
- Demand and supply situation for biodiesel and ethanol
- Potential market segments for Biofuel
- Opportunities and challenges before biofuel in the market.
About The Report
The report is an excellent decision making tool for businesses, as it provides an updated and detailed analysis of the US Biofuel market. An overview of global Biofuel market with its focus exclusively on US is also included in it.
RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.